The South Korean won weakened against the U.S. dollar on Tuesday, falling to its lowest level since June 8. Renewed expectations of a U.S. Federal Reserve rate hike this year, coupled with a stronger U.S. dollar outlook, are driving the decline.
The South Korean won reached a near two-week high against the dollar on Monday, driven by optimism over a preliminary peace deal between the US and Iran. The won's strength coincided with foreign investors becoming net buyers of local stocks, boosting the KOSPI index.
The South Korean won strengthened to its highest level in nearly two weeks against the U.S. dollar on Monday, following U.S. President Donald Trump's announcement of a peace deal with Iran. Global oil prices also dropped on the news.
The South Korean won strengthened sharply against the US dollar on June 12, driven by hopes of a US-Iran peace deal, with foreign investors becoming net buyers of local stocks for the first time in 25 sessions.
The South Korean won strengthened to 1,512.1 per USD, its highest in 5 sessions, after financial authorities issued warnings against speculative trading, pledging inspections and stern action.
The South Korean won weakened past 1,540 against the US dollar in after-hours trading, driven by Middle East uncertainties and foreign investors selling off domestic stocks. The won closed at 1,529.7 per dollar, marking a significant daily increase and reaching its highest level since March 2009.
The South Korean won weakened sharply against the U.S. dollar on Thursday, falling below 1,530 won per dollar amid renewed Middle East tensions from U.S.-Iran airstrikes. Finance Minister Koo Yun-cheol warned of actions to curb excessive market volatility.
The South Korean won weakened significantly against the U.S. dollar on Friday, falling to its lowest level since April 2. The decline was attributed to rising oil prices amid renewed uncertainties surrounding a peace deal between the U.S. and Iran, coupled with foreign investors selling local stocks.
The South Korean won gained slightly against the U.S. dollar on Thursday, trading at 1,506.1 won per dollar. The rise was driven by expectations of a potential US-Iran peace deal to end the Middle East war.
South Korea's Second Vice Finance Minister Huh Chang stated that recent volatility in the won is excessive given the country's strong economic fundamentals. He noted the government is monitoring the market and ready to act against speculative trading.
The South Korean won weakened slightly to 1,490.6 won per USD on May 13, amid Middle East uncertainties and sharper-than-expected US inflation, despite the KOSPI rising 2.63% driven by tech shares.
SEOUL, May 13 (Yonhap) -- The South Korean won weakened sharply against the U.S....
The South Korean won rose slightly to 1,475.0 against the dollar Wednesday morning following the UAE's announcement to exit OPEC in May. Analysts expect the UAE's withdrawal and increased production target to potentially weaken oil price increases, though global oil prices continued rising with WTI near $99/barrel and Brent around $111.
The South Korean won weakened against the U.S. dollar as stalled peace talks between the U.S. and Iran led to a surge in global oil prices, impacting South Korea's energy imports and increasing market volatility.
The South Korean won fell sharply to 1,479.5 against the dollar Wednesday, down 11 won from the previous session, retreating from a one-month high. The weakness came as US-Iran peace talks stalled, with VP JD Vance postponing his Pakistan trip after Tehran failed to respond to US positions. Global oil prices surged, with WTI crude rising to nearly $90 per barrel and Brent crude climbing over 3% to around $98, increasing demand for dollars for crude imports.
The South Korean won reached a one-month high of 1,468.5 per dollar on Tuesday, supported by potential U.S.-Iran peace talks, falling oil prices, and strong foreign investment in the KOSPI index.
